Our team looks at a lot of research throughout each day. A few charts that caught our eye this week, and why:


Joseph: All of the 2020 job losses have now been recovered. Where that stacks up vs. other recessions 


Source: Calculated Risk as of 08.05.2022


JL: … but now the risk of sticky wage inflation has risen


Source: Bianco 08.08.2022


Dave: Most investors pay attention to stocks, but bonds and currencies have been the spots for real volatility of late


Source: Strategas as of 08.08.2022


JD: Even with this year’s selloff, stocks are not exactly cheap…


Source: Strategas 08.08.2022


Brad: …a bit troubling given historic returns when CPI runs this hot


Source: Strategas as of 08.08.2022


Brad: A number of international markets continue to trade at substantial discounts to the US


Source: Strategas as of 08.05.2022


JL: Can you even spot the Fed’s balance sheet “reduction”?


Source: FED as of 08.03.2022




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The Consumer Price Index (CPI) measures the change in prices paid by consumers for goods and services. The CPI reflects spending patterns for each of two population groups: all urban consumers and urban wage earners and clerical workers.

The S&P 500® Index is the Standard & Poor’s Composite Index and is widely regarded as a single gauge of large cap U.S. equities. It is market cap weighted and includes 500 leading companies, capturing approximately 80% coverage of available market capitalization. 

The MOVE Index (Merrill Lynch Option Volatility Estimate) measures the market’s expectation of implied volatility of the US bond market using 1-month Treasury options weighted for 2, 5, 10, and 30 year contracts.  

Deutsche Bank’s CVIX provides a daily measure of volatility in the FX market, showing how suddenly volatility can spike and fall and providing a benchmark for currency market participants. 

Created by the Chicago Board Options Exchange (CBOE), the Volatility Index, or VIX, is a real-time market index that represents the market’s expectation of 30-day forward-looking volatility. Derived from the price inputs of the S&P 500 index options, it provides a measure of market risk and investors’ sentiments. 

Foreign securities are more volatile, harder to price and less liquid than U.S. securities. They are subject to different accounting and regulatory standards and political and economic risks. These risks are enhanced in emerging market countries.

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